9. Restricted assets are most likely displayed in the balance sheet of a governmental entity: A. General fund B. Debt service fund C. Enterprise fund D. Voluntarily maintained general long-term debt account group 10. A city government collects local option sales taxes legally restricted to pay for the hiring of teachers for hearing impaired school children. Which fund should account for the receipt of the sales taxes? A Special revenue fund B. Capital projects fund C. Private-purpose trust fund D. General fund 11. A permanent fund classified under governmental funds... A. Accounts for most of the basic services provided by the governmental unit. B. Accounts for financial resources intended for major capital projects C. Accounts for services provided by one department of a government to another Accounts for resources that are legally restricted so only earnings, not principal, may be expended, and for purposes to benefit the government and its citizenry. D 12. Encumbrance accounting is only typically used for A. Permanent Funds. B. Debt Service Funds. (C. Capital Projects Funds. D. None of the above. 13. Proceeds of tax supported bonds are recognized in a capital projects fund as aan): A. Revenue. B. Liability. C. Other Financing Use. (D. Other Financing Source. 14 A trust fund of Bruge City received $100,000 from a donor during the year ended June 30, 20X9. During the vear ended June 30, 20X9, $94,000 of the cash received was used to provide food and clothing to the city's poor. How should the trust fund report these resource flows on its statement of changes in fiduciary net assets for the year ended June 30, 20X9? A. As revenues of $100,000 and as expenditures of $94,000. 9. Restricted assets are most likely displayed in the balance sheet of a governmental entity: A. General fund B. Debt service fund C. Enterprise fund D. Voluntarily maintained general long-term debt account group 10. A city government collects local option sales taxes legally restricted to pay for the hiring of teachers for hearing impaired school children. Which fund should account for the receipt of the sales taxes? A Special revenue fund B. Capital projects fund C. Private-purpose trust fund D. General fund 11. A permanent fund classified under governmental funds... A. Accounts for most of the basic services provided by the governmental unit. B. Accounts for financial resources intended for major capital projects C. Accounts for services provided by one department of a government to another Accounts for resources that are legally restricted so only earnings, not principal, may be expended, and for purposes to benefit the government and its citizenry. D 12. Encumbrance accounting is only typically used for A. Permanent Funds. B. Debt Service Funds. (C. Capital Projects Funds. D. None of the above. 13. Proceeds of tax supported bonds are recognized in a capital projects fund as aan): A. Revenue. B. Liability. C. Other Financing Use. (D. Other Financing Source. 14 A trust fund of Bruge City received $100,000 from a donor during the year ended June 30, 20X9. During the vear ended June 30, 20X9, $94,000 of the cash received was used to provide food and clothing to the city's poor. How should the trust fund report these resource flows on its statement of changes in fiduciary net assets for the year ended June 30, 20X9? A. As revenues of $100,000 and as expenditures of $94,000
